Extension of date of ensuring compliance with revised Clause 49
of the Listing Agreement
Securities and Exchange Board of India (SEBI) has extended the date of ensuring compliance with the revised Clause 49 of the Listing agreement to December 31, 2005.
It has been brought to our notice that a large number of companies are still not in a state of preparedness to be fully compliant with the requirements as contained in SEBI circular no. SEBI/CFD/DIL/CG/1/2004/12/10 dated October 29, 2004 pertaining to revised Clause 49 of the listing agreement pertaining to corporate governance.
As it is our wont that all listed companies and companies desirous of getting listed should achieve best corporate governance status, it was felt that more time should be allowed to them to conform to Clause 49 of the listing agreement as revised in terms of the aforesaid circular. Accordingly, the date for ensuring compliance with the revised Clause 49 of the listing agreement has been now extended upto December 31, 2005.
Mumbai
March 29, 2005